BHP and Lundin Mining created Vicuña, the new company in charge of the Filo del Sol and Josemaría copper projects

BHP and Lundin Mining completed the joint acquisition of Filo Corp., the sale of 50% of the project Josemaria of Lundin Mining to BHP and the formation of a half and half (50/50) joint venture that was named “Vicuña Corp.”

“The formation of Vicuña marks a new chapter in the development of the emerging Vicuña District, located in San Juan and the Atacama region of Chile”they highlighted in a statement received by Energy Report.

Under the new seal Vicuna project activities are now maintained Filo del Sol (“FDS”) and Josemaría. The transaction included the joint purchase of Edge of the Sun for approximately US$4.1 billion Canadians, about US$3,000 million. While the entry to Josemaría involved a disbursement of US$690 million. BHP and Lundin Mining They will each have 50% of both projects. But in addition, the authorities of the Vicuña joint venture were designated.

He Vicuña board will be composed of Jack Lundin (President and CEO of Lundin Mining), Teitur Poulsen (executive vice president and chief financial officer of Lundin Mining), Brandon Craig (BHP president for the Americas) and Carlos Ramirez (vice president of Vicuña JV BHP). Ramírez was appointed president of the board of directors of Vicuña Corp.

However, Vicuna will be directed by Dave Dicairethe former executive vice president of the project Josemaría from 2022. Dicaire has over 40 years of mining, engineering and construction experience gained on a variety of global projects leading both owners and engineering, procurement and construction management (EPCM) teams.

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David Dicaire was Senior Vice President of the Josemaría project since August 2022, with overall responsibility for all matters related to the project, from design and early works to construction and commissioning.

Dicaire was also vice president of Projects at Lundin Goldwhere he oversaw the development and construction of the award-winning project Northern Fruit in Ecuador and, before that, Project Director in Freeport-McMoRan for the successful Expansion Project of Green Hillvalued in billions of dollars, in Peru. Before moving to Freeport McMoRanwas General Manager of Project Development for South America for Xstrata Copperbased in Santiago de Chile.

Jack Lundinpresident and CEO of Lundin Miningcelebrated the agreement and the renown of the project. “Thanks to the strong collaboration between BHP and Lundin Miningtoday we announce the formation of the new joint agreement Vicuna Corp. and we now enter an exciting new chapter of growth that has the potential to transform Lundin Mining in a producer of copper first level,” he said.

Vicuña Copper District Josermía Winter Project

According to Lundin, the newly formed team of Vicunawith the support of its board will work to achieve several key milestones throughout the year. “Vicuna aims to estimate mineral resources for the deposits Filo del Sol and Josemaría within the first half of 2025. This resource estimate will form the basis of an integrated technical report that will describe the development plan for the phased construction of the district,” he said.

“The district represents an opportunity to meet the world’s growing copper needs in a significant way, both in terms of scale and operational excellence. The Joint Agreement is committed to applying international industry standards to every facet of the business, from technology innovation to commitment to sustainability and capacity development,” Lundin noted.